MTN Sells 18.9% Stake in Jumia, Raises $142m

South Africa’s MTN said on Friday it had now exited its 18.9% stake in the continent’s online retailer Jumia, making R2.3 billion ($142.31 million) in net proceeds.

MTN said in August it had filed with the New York Stock Exchange to prepare for a secondary sale of Jumia shares as part of a R25 billion  divestment plan aimed at simplifying its portfolio over the next three to five years.

Follow us on:

AriseNews

Recent Posts

Federal Government Reinstates Ikechebelu as Acting Vice-Chancellor of UNIZIK

The federal government has reinstated Professor Joseph Ikechebelu as acting Vice-Chancellor of UNIZIK, nullifying Professor…

1 hour ago

Court Of Appeal Nullifies Judgment Blocking Voter Register Release For Rivers LG Polls

Court of Appeal has overturned the Federal High Court ruling barring INEC from releasing voter…

1 hour ago

Kenya Cancels Adani Contracts as US Prosecutors Charge Tycoon with Fraud

Kenya has cancelled airport and energy deals with Adani following US bribery and fraud charges…

2 hours ago

Brazil’s Former President Bolsonaro, 36 Others Indicted Over Alleged Coup Attempt In Brazil

Brazil’s former president Bolsonaro and 36 others have been indicted for allegedly attempting a coup…

2 hours ago

Republican David McCormick Triumphs As Democrat Sen. Bob Casey Concedes After Recount

Republican David McCormick won Pennsylvania Senate seat as Democratic Sen. Bob Casey concedes after recount…

2 hours ago

Trudeau Announces Temporary Tax Relief and Cheques Amid Rising Living Costs

Trudeau's government has announced plans for temporary tax relief, cheques for Canadians amid rising costs…

2 hours ago